How much does my daughter make rent per month?

There is a chance our daughter may want to stay in the house for several yrs and invest her money into three flats for rental in London and use the cash from the sale of her central London property. We were receiving a rental income of 2100 gross per month.

What happens if my daughter lives rent free?

Lucky daughter – no rent to pay. Your tax position is if the flat is let at below market rate or let free to relative is that your claim for allowable expenses on the property is limited to the amount of rent received. So no rent received , no expenses allowed.

When was the last time I lived in an apartment?

After owning a home for the past 11 years, and living in one growing up, the only time I’d ever lived in an apartment before was with roommates in college. I always assumed I’d want a house.

Where does my daughter live rent free in London?

Our daughter sold her flat a few months ago in central London and is now living in one of our rental properties rent free. It was agreed that our daughter would pay the council tax, water, and all other bills for the duration of her stay, but no rent.

When do parents have to pay for adult kids?

This article is more than 2 years old. Now that college graduation season is here, parents and their young adult kids are coming face-to-face with the key post-graduation financial question that will impact them for years: Who pays for what after the college degree? That’s really a bunch of questions all rolled into one:

Can a parent pay rent on a child?

He knows one couple who temporarily paid rent on a Georgetown apartment in Washington, D.C., for their child, but the child’s income couldn’t cover the costs once the payments stopped. Entertainment expenses.

How long can I keep my child in my home?

Often this situation can be mutually beneficial. How long will this situation be likely to last? You may be happy to have your child for three months, but if you know it’s going to be another year or two before they can get out on their own again then you may need to consider alternative options. What are your child’s other options?

Which is better for a child renting or buying a home?

This one varies widely depending on the financial status of the parents and the needs of the child. But there are times (and housing markets) where buying a home is a much savvier option than renting. As long as the child is working hard, offering the gift of some or all of a down payment can be huge.